BINGHAM FARMS, MI-Kmart's downfall and a broken land development deal help lead to a move to sell off assets. Layoffs won't happen until properties are sold, company officials say.
BLOOMFIELD HILLS, MI-Two deals for apartment complexes in Melvindale and Harper Woods total $8.75 million, while a Detroit deal involving 315 units is done at an undisclosed price. Income Property Organization brokers the deals.
SOUTHFIELD, MI-Although the list of closures is not public, Lear Corp. will shut down operations at 21 locations worldwide, with one in O'Fallon, MO the first to go. The closings will occur through most of 2003.
SOUTHFIELD, MI-The city that was one of the first suburbs in the US tries to spark a new interest in Cornerstone, an area of prosperity that includes "The Village at Cornerstone," a mixed-use redevelopment project.
STERLING HEIGHTS, MI-A Best Western business hotel now brings in families to float on an indoor lazy river and splash through three-story water slide as part of an 52,000-sf addition.
FARMINGTON HILLS, MI-Corinthian College leases 32,473 sf of office space in Southfield, MI in a $7.5-million deal while Friedman Real Estate Group brokers a $3.2-million office sale in Troy, MI.
DETROIT-Nearly 40 residents at a recent public hearing opposed the project, which would expand and consolidate three terminal areas in southwest Detroit and Dearborn to create an 840-acre facility.
HIGHLAND PARK, MI-A Clean Michigan Initiative grant of $50,000 will help pay or cleanup work to restore the site to grade for new development, which is intended to lure other projects to the Detroit suburb.
TROY, MI-Kmart's decision to close 284 of its stores results in 63 attached Penske auto centers to follow suit. However, company officials say the company has made significant progress since a spin-off from Kmart.